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Qu A Carla Vista Snowboarding Company, a public company purchased equipment on January 10, 2017 for $630,000. At that time. management estimated that the equipment
Qu A Carla Vista Snowboarding Company, a public company purchased equipment on January 10, 2017 for $630,000. At that time. management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Carla Vista uses the straight-line method of depreciation and has a December 31 year end. Vi A Carla Vista tested the equipment for impairment on December 31, 2021. after recording the annual depreciation experse. It was determined that the equipment's recoverable amount was $298.000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000 Assuming no further impairments or recoveries, calculate the annual depreciation expense for the years 2022 to 2024. (Round depreciation rate to 2 decimal places, e.g. 15.75 and final answers to decimal places, eg. 5,275.) Depreciation Expense 2022 $ 67000 2023 $ 67000 2024 $ 67000
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